Civic Intelligence

Southern College of Optometry

EIN 62-0548917 • 501(c)3 • Memphis, TN

Profile

To lead the profession by: educating the best possible healthcare providers, promoting lifelong learning, and fostering a personal commitment to service.

1245 Madison AveMemphis, TN 38104

www.sco.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

44th percentile

0.19x

Higher debt load relative to assets than 44% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

61st percentile

0.50x

Higher debt load relative to revenue than 61% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Net Margin

30th percentile

-1.0%

Higher net margin than 30% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

64th percentile

$462,515

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Asset Growth

50th percentile

5.9%

Faster asset growth than 50% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Revenue Growth

66th percentile

17%

Faster revenue growth than 66% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Assets

Up

$95,787,704

Up $5,367,261 (+5.9%) from 2024

Liabilities

Up

$17,769,193

Up $1,082,948 (+6.5%) from 2024

Net Assets

Up

$78,018,511

Up $4,284,313 (+5.8%) from 2024

Revenue

Up

$35,582,027

Up $5,082,374 (+17%) from 2024

Expenses

Up

$35,938,397

Up $1,704,985 (+5.0%) from 2024

Net Income

Up

-$356,370

Up $3,377,389 (+90%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2011: $87,200,774Liabilities 2011: $20,936,871Net Assets 2011: $66,263,9032011Assets 2012: $86,734,866Liabilities 2012: $21,163,687Net Assets 2012: $65,571,1792012Assets 2013: $96,200,672Liabilities 2013: $25,747,269Net Assets 2013: $70,453,4032013Assets 2014: $102,675,682Liabilities 2014: $28,326,298Net Assets 2014: $74,349,3842014Assets 2015: $100,798,052Liabilities 2015: $27,451,954Net Assets 2015: $73,346,0982015Assets 2016: $95,905,130Liabilities 2016: $23,054,395Net Assets 2016: $72,850,7352016Assets 2017: $101,857,470Liabilities 2017: $23,422,914Net Assets 2017: $78,434,5562017Assets 2018: $103,162,648Liabilities 2018: $22,799,061Net Assets 2018: $80,363,5872018Assets 2019: $105,622,017Liabilities 2019: $20,934,442Net Assets 2019: $84,687,5752019Assets 2020: $101,899,009Liabilities 2020: $18,120,799Net Assets 2020: $83,778,2102020Assets 2021: $101,293,349Liabilities 2021: $4,697,894Net Assets 2021: $96,595,4552021Assets 2022: $90,101,083Liabilities 2022: $15,538,246Net Assets 2022: $74,562,8372022Assets 2023: $92,618,288Liabilities 2023: $18,757,393Net Assets 2023: $73,860,8952023Assets 2024: $90,420,443Liabilities 2024: $16,686,245Net Assets 2024: $73,734,1982024Assets 2025: $95,787,704Liabilities 2025: $17,769,193Net Assets 2025: $78,018,5112025

Highlighted filing

2025

Assets$95,787,704
Liabilities$17,769,193
Net Assets$78,018,511

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$30M$20M$10M$0-$10MExpenses 2011: $20,570,4722011Expenses 2012: $21,344,2022012Expenses 2013: $22,409,6442013Revenue 2014: $23,230,910Expenses 2014: $24,968,416Net Income 2014: -$1,737,5062014Revenue 2015: $25,160,453Expenses 2015: $25,805,800Net Income 2015: -$645,3472015Revenue 2016: $26,023,297Expenses 2016: $25,882,776Net Income 2016: $140,5212016Revenue 2017: $27,649,514Expenses 2017: $26,403,507Net Income 2017: $1,246,0072017Revenue 2018: $29,140,579Expenses 2018: $28,990,431Net Income 2018: $150,1482018Revenue 2019: $32,355,176Expenses 2019: $30,266,392Net Income 2019: $2,088,7842019Revenue 2020: $28,872,657Expenses 2020: $30,158,641Net Income 2020: -$1,285,9842020Revenue 2021: $30,589,289Expenses 2021: $28,723,693Net Income 2021: $1,865,5962021Revenue 2022: $28,598,801Expenses 2022: $31,397,943Net Income 2022: -$2,799,1422022Revenue 2023: $29,709,045Expenses 2023: $33,149,501Net Income 2023: -$3,440,4562023Revenue 2024: $30,499,653Expenses 2024: $34,233,412Net Income 2024: -$3,733,7592024Revenue 2025: $35,582,027Expenses 2025: $35,938,397Net Income 2025: -$356,3702025

Highlighted filing

2025

Revenue$35,582,027
Expenses$35,938,397
Net Income-$356,370

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$95.8$17.8$78.0$35.6$35.9$0.36
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$90.4$16.7$73.7$30.5$34.2$3.73
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$92.6$18.8$73.9$29.7$33.1$3.44
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$90.1$15.5$74.6$28.6$31.4$2.80
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$101$4.70$96.6$30.6$28.7$1.87
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$102$18.1$83.8$28.9$30.2$1.29
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$106$20.9$84.7$32.4$30.3$2.09
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$103$22.8$80.4$29.1$29.0$0.15
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$102$23.4$78.4$27.6$26.4$1.25
2016Detailed filing. Detailed filing data is available for this year.$95.9$23.1$72.9$26.0$25.9$0.14
2015Detailed filing. Detailed filing data is available for this year.$101$27.5$73.3$25.2$25.8$0.65
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$103$28.3$74.3$23.2$25.0$1.74
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$96.2$25.7$70.5$22.4
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$86.7$21.2$65.6$21.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$87.2$20.9$66.3$20.6
Latest Detailed Filing

The latest 2025 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2023 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 10, 2023
Return Version
2022v5.0
Gross Receipts
$30,979,916
Mission and Program Overview

Mission

To lead the profession by: educating the best possible healthcare providers, promoting lifelong learning, and fostering a personal commitment to service.

The organization operates a School of Optometry and Clinic.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$51,597,173$50,835,147▼ $762,026
Land, Buildings, and Equipment, Net$21,398,061$24,825,783▲ $3,427,722
Other Notes and Loans Receivable, Net$8,742,101$9,059,328▲ $317,227
Cash and Non-Interest-Bearing Accounts$6,741,403$4,941,566▼ $1,799,837
Accounts Receivable$532,178$456,440▼ $75,738
Inventories for Sale or Use$478,655$438,711▼ $39,944
Prepaid Expenses and Deferred Charges$277,131$356,412▲ $79,281
Pledges and Grants Receivable$334,381$184,683▼ $149,698
Total Assets$90,101,083$92,618,288▲ $2,517,205
Other Assets Total$0$1,520,218▲ $1,520,218
Liabilities
Other Liabilities$11,012,613$14,325,725▲ $3,313,112
Accounts Payable and Accrued Expenses$3,104,940$3,076,720▼ $28,220
Deferred Revenue$1,420,693$1,354,948▼ $65,745
Total Liabilities$15,538,246$18,757,393▲ $3,219,147
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$55,588,589$49,207,171▼ $6,381,418
Net Assets With Donor Restrictions$18,974,248$24,653,724▲ $5,679,476
Total Net Assets Fund Balance$74,562,837$73,860,895▼ $701,942
Total Liabilities and Net Assets / Fund Balance$90,101,083$92,618,288▲ $2,517,205

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$15,387,587$11,690,114$27,077,701
Equipment$5,575,860$12,077,081$17,652,941
Land$3,148,551-$3,148,551
Leasehold Improvements$76,262$2,795,184$2,871,446
Other Land Buildings$637,523-$637,523

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$36,885,037$-827,038▲ $2,630,578-$35,713,882
2021$42,463,686$3,555,284▼ $6,587,064-$36,885,037
2020$42,601,772$-7,199,153▲ $9,050,747-$42,463,686
2019$42,410,515$756,148▲ $1,007,109-$42,601,772
2018$39,245,434$2,003,271▲ $2,287,410-$42,410,515
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Lewis ReichPresidentFT$375,766$63,210$438,976
David L WestSecretary/TreasurerFT$212,246$45,942$258,188
Dr John B CampbellV.P. Academic AffairsFT$212,870$43,641$256,511
James E VenableV.P. Clinical OperationsFT$203,717$35,241$238,958
Joe HauserV.P. Student ServicesFT$210,014$22,556$232,570
Daniel FullerFacultyFT$181,256$32,475$213,731
Christopher W LievensFacultyFT$166,651$45,992$212,643

Highest Paid Contractors

ContractorServicesLocationCompensation
Viktorhall Construction LLCConstruction Services1288 DOVECREST RD, Memphis, TN 38134$2,090,445
Revenue and Support

Revenue Composition

Contributions and Grants
$1,814,125
Program Service Revenue
$26,504,400
Investment Income
$1,039,509
Other Revenue
$351,011
All Other Contributions
$1,571,380
Change in Net Assets
$-3,440,456

Audited Revenue Reconciliation

Revenue per Audited Statements
$29,709,045
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$3,864,005
Total Revenue per Audited Statements
$33,573,050
Total Revenue per Form 990
$29,709,045
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$21,529,438
Other Expenses$11,620,063
Total Fundraising Expense$143,445
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$11,766,760$4,353,719$93,276$16,213,755
Pension Plan Contributions$2,919,795$1,807,251-$4,727,046
All Other Expenses$564,161$962,799$1,029$1,527,989
Depreciation Depletion$637,197$778,797-$1,415,994
Office Expenses$410,297$768,694$3,770$1,182,761
Other Expenses$26,984$587,702$12,125$614,686
Current Officers, Directors, Trustees, and Key Employees$258,812$316,325$13,500$588,637
Fees for Services Other$243,401$264,699-$508,100
Insurance$199,341$243,640-$442,981
Travel$181,060$230,224$19,625$430,909
Advertising-$339,295$120$339,415
Occupancy-$207,486-$207,486
Interest-$166,038-$166,038
Fees for Services Legal-$72,450-$72,450
Fees for Services Accounting-$70,000-$70,000
Total Functional Expenses$20,093,281$12,912,775$143,445$33,149,501

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$34,274,992
Expenses per Audited Statements$33,149,501
Total Expenses per Form 990$33,149,501
Expenses Not Reported on Form 990$1,125,491
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advances from the Federal Government for Student Loans$10,263,838
Line of Credit$2,523,324
Operating Lease Liability$1,538,563
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

A copy of the 990 is provided to the Executive Committee and Board of Trustees. The Executive Committee reviews the Form 990 on behalf of the Board of Trustees before filing.

Form 990, Part VI, Section B, line 12C

The Executive Committee of the Board of Trustees reviews and approves based on data comparable to other institutions. Board members are required to disclose annually and no such conflicts exist.

Form 990, Part VI, Section B, line 15A

The Board of Trustee Executive Committee provides recommendations for the compensation of the president based on data comparable to other institutions, written employment contracts, and compensation studies and surveys. Compensation is approved by the board.

Form 990, Part VI, Section C, line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Southern College of Optometry
EIN
62-0548917
Phone
9017223200
Address
1245 Madison Ave, Memphis, TN 38104

Signing Officer

Name
David West
Title
V.P. for Finance & Administration
Phone
9017223200
Signed
2023-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David West
Formed
1932
Legal Domicile
Tn
Voting Board Members
17
Independent Board Members
17
Employees
393
Volunteers
0

Preparer

Firm
Watkins Uiberall Pllc
Address
1661 AARON BRENNER DR STE 300, MEMPHIS, TN 38120
Preparer
Jeff Thomason
Phone
9017612720
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

The process has not changed from the prior year.

Financial Statement Notes

Part V, Line 4:

Endowment fund created to accumulate monies to support the college and its mission over the long term.

Part XI, Line 2D - Other Adjustments:

Cost of Goods Sold Allocated Rental Expenses

Part XII, Line 2D - Other Adjustments:

Cost of Goods Sold Allocated Rental Expenses

Raw XML AppendixShowing 400 of 755 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/AdvertisingGrp/FundraisingAmt0120
IRS990/AdvertisingGrp/ManagementAndGeneralAmt0339295
IRS990/AdvertisingGrp/TotalAmt0339415
IRS990/AllOtherContributionsAmt01571380
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IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt0962799
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
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IRS990/Form990PartVIISectionAGrp/PersonNm0Christopher W Wroten OD
IRS990/Form990PartVIISectionAGrp/PersonNm1Amanda Brewer-Lord OD
IRS990/Form990PartVIISectionAGrp/PersonNm2David A Cockrell OD
IRS990/Form990PartVIISectionAGrp/PersonNm3Dave Sattler FAAO
IRS990/Form990PartVIISectionAGrp/PersonNm4Lynn T Shaw
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IRS990/Form990PartVIISectionAGrp/PersonNm6Betty Harville Brown OD
IRS990/Form990PartVIISectionAGrp/PersonNm7Anita Davis PhD
IRS990/Form990PartVIISectionAGrp/PersonNm8Michael Dorkowski OD
IRS990/Form990PartVIISectionAGrp/PersonNm9Vicki Farmer
IRS990/Form990PartVIISectionAGrp/PersonNm10Charles Glaser OD
IRS990/Form990PartVIISectionAGrp/PersonNm11Mark R Kapperman OD
IRS990/Form990PartVIISectionAGrp/PersonNm12Charles Kinnaird OD
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IRS990/Form990PartVIISectionAGrp/PersonNm14Jennifer Lyerly OD
IRS990/Form990PartVIISectionAGrp/PersonNm15Stacey J Meier OD
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IRS990/Form990PartVIISectionAGrp/PersonNm17Dr Lewis Reich
IRS990/Form990PartVIISectionAGrp/PersonNm18Dr John B Campbell
IRS990/Form990PartVIISectionAGrp/PersonNm19David L West
IRS990/Form990PartVIISectionAGrp/PersonNm20Joe Hauser
IRS990/Form990PartVIISectionAGrp/PersonNm21James E Venable
IRS990/Form990PartVIISectionAGrp/PersonNm22Daniel Fuller
IRS990/Form990PartVIISectionAGrp/PersonNm23Christopher W Lievens
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